IMMERSION CORP — Director's Dealing 2019

Nov 19, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IMMERSION CORP (IMMR)
CIK: 0001058811
Period of Report: 2019-11-15

Reporting Person: Singer Eric (10% Owner)
Reporting Person: VIEX Opportunities Fund, LP Series One (10% Owner)
Reporting Person: VIEX GP, LLC (10% Owner)
Reporting Person: VIEX Special Opportunities Fund II, LP (10% Owner)
Reporting Person: VIEX Special Opportunities GP II, LLC (10% Owner)
Reporting Person: VIEX Capital Advisors, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-11-15	Common Stock, $0.001 par value	X	220500	$2.50	Acquired	2025398	Indirect
2019-11-15	Common Stock, $0.001 par value	X	233200	$5.00	Acquired	2258598	Indirect
2019-11-15	Common Stock, $0.001 par value	X	129300	$7.50	Acquired	2387898	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-11-15	Call Option (right to buy)	$2.50	X	2205	Disposed	2019-11-15	Common Stock (220500)	Indirect
2019-11-15	Call Option (right to buy)	$5.00	X	2332	Disposed	2019-11-15	Common Stock (233200)	Indirect
2019-11-15	Put Option (obligation to buy)	$7.50	X	1293	Disposed	2019-11-15	Common Stock (129300)	Indirect
2019-11-15	Put Option (obligation to buy)	$7.50	E	707	Disposed	2019-11-15	Common Stock (70700)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.001 par value	1357934	Indirect

Footnotes

F1: This Form 4 is filed jointly by VIEX Opportunities Fund, LP - Series One ("Series One"), a series of VIEX Opportunities Fund, LP, VIEX Special Opportunities Fund II, LP ("VSO II"), VIEX GP, LLC ("VIEX GP"), VIEX Special Opportunities GP II, LLC ("VSO GP II"), VIEX Capital Advisors, LLC ("VIEX Capital"), and Eric Singer (collectively, the "Reporting Persons").

F2: Shares of Common Stock of Immersion Corporation (the "Issuer") beneficially owned directly by VSO II or options purchased or sold by VSO II. These transactions represent (i) the exercise on November 15, 2019 of 2,205 call option contracts by VSO II, each contract representing 100 shares of Issuer Common Stock, and the acquisition of the shares underlying such call options by VSO II, (ii) the exercise on November 15, 2019 of 2,332 call option contracts by VSO II, each contract representing 100 shares of Issuer Common Stock, and the acquisition of the shares underlying such call options by VSO II, and (iii) the exercise on November 15, 2019 of 1,293 put option contracts sold by VSO II, each contract representing 100 shares of Issuer Common Stock, by the counterparty and the acquisition of the shares underlying such put options by VSO II.

F3: (continued from footnote 2) VSO GP II, as the general partner of VSO II, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by VSO II. VIEX Capital, as the investment manager of VSO II, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by VSO II. Mr. Singer, as the managing member of each of VSO GP II and VIEX Capital, may be deemed the beneficial owner of the securities of the Issuer beneficially owned by VSO II.

F4: Shares of Common Stock of the Issuer beneficially owned directly by Series One. VIEX GP, as the general partner of Series One, may be deemed the beneficial owner of the shares of Common Stock of the Issuer beneficially owned by Series One. VIEX Capital, as the investment manager of Series One, may be deemed the beneficial owner of the shares of Common Stock of the Issuer beneficially owned by Series One. Mr. Singer, as the managing member of each of VIEX GP and VIEX Capital, may be deemed the beneficial owner of the shares of Common Stock of the Issuer beneficially owned by Series One.

F5: On November 15, 2019, 707 put option contracts sold by VSO II, each contract representing 100 shares of Issuer Common Stock, expired. As such put option contracts were written prior to the Reporting Persons becoming subject to Section 16, their expiration should not be subject to Section 16(b) pursuant to the court's reasoning in Roth v. Goldman Sachs Group, Inc., 740 F.3d 865 (2d Cir. 2014).

F6: Each Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F7: These options were exercisable upon issuance.